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CONTACT INFORMATION

You can contact us by sending mail below or you can call toll free:

Phone: 800.840.5617
Phone: 312.920.0212
Fax: 855.994.4111


ADDRESS

United Futures Trading Company, Inc.
9247 Broadway
Suite EE
Merrillville, IN 46410

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Renewed concerns that the Fed is cutting back sooner rather than later

Market News

05.29.03

Top Day Market News

Overnight, stocks are lower on renewed concerns about the Fed cutting back its quantitative easing sooner rather than later. Copper is lower as the IMF cuts back Chinese growth forecasts while the OECD says that growth remains uneven and unemployment remains pernicious. The recent backup in rates has been swift. Gold, the hedge against all unintended consequences, is modestly higher but remains negative in trend.


 

Week of May 27 - May 31

 

Date

 

ET

 

Release

 

For

 

Actual

Briefing.com Forecast

Briefing.com Consensus

 

Prior

Revised From

 

May 28

 

09:00

 

Case-Shiller 20-city Index

 

Mar

 

 

10.0%

 

10.1%

 

9.3%

 

 

May 28

 

10:00

 

Consumer Confidence

 

May

 

 

72.5

 

72.5

 

68.1

 

 

May 29

 

07:00

 

MBA Mortgage Index

 

05/25

 

 

NA

 

NA

 

-9.8%

 

 

May 30

 

08:30

 

Initial Claims

 

05/25

 

 

345K

 

340K

 

340K

 

 

May 30

 

08:30

 

Continuing Claims

 

05/18

 

 

3000K

 

3000K

 

2912K

 

 

May 30

 

08:30

 

GDP - Second Estimate

 

Q1

 

 

2.7%

 

2.5%

 

2.5%

 

 

May 30

 

08:30

 

GDP Deflator - Second Estimate

 

Q1

 

 

1.2%

 

1.2%

 

1.2%

 

 

May 30

 

10:00

 

Pending Home Sales

 

Apr

 

 

0.0%

 

1.5%

 

1.5%

 

 

May 30

 

10:30

 

Natural Gas Inventories

 

05/25

 

 

NA

 

NA

 

89 bcf

 

 

May 30

 

11:00

 

Crude Inventories

 

05/25

 

 

NA

 

NA

- 0.338M

 

 

May

 

08:30

 

Personal Income

 

Apr

 

 

-0.2%

 

0.1%

 

0.2%

 

 

May 31

 

08:30

 

Personal Spending

 

Apr

 

 

0.1%

 

0.1%

 

0.2%

 

 

May 31

 

08:30

 

PCE Prices - Core

 

Apr

 

 

0.1%

 

0.1%

 

0.0%

 

 

May 31

 

09:45

 

Chicago PMI

 

May

 

 

49.5

 

49.3

 

49.0

 

 

May 31

 

09:55

 

Michigan Sentiment - Final

 

May

 

 

82.5

 

83.7

 

83.7

 


Numbers are good up until the close of business today. These are strictly technical in nature, not fundamentally based or biased.

Legend U is Up

D is Down

PRD is Potential Reversal Day (Change of Trend) S2 is Weekly strong support

S1 is Weekly good support DS is Daily Support

DR is Daily Resistance

R1 is Weekly Good Resistance and is calculated once a week on Sunday night

R2 is Weekly Strong Resistance and is calculated once a week on Sunday night

Levels are for the most active futures contract

 

Daily Support and Resistance

 

 

Trend

WS2

WS1

DS

DR

WR1

WR2

Jun ES


D

1605

1626

1641.50

1670

1679.50

1709.25

Jun Nasdaq


D

2910

2951

2980

3031

3043

3094

Jun JY


D

9528

9714

97.26

98.98

10011

10122

Jun EC


D

127.35

128.27

127.92

129.35

130.05

130.91

Jun 10 Year


D

130.01

130.22

140.01

142.30

132.06

133.01

Jun 30 Year


D

140.25

142.25

129.27

131.05

144.28

146.13

July Soybeans


U

13.85

14.30

14.78

15.34

15.34

15.92

July Corn


D

6.15

6.36

6.57

6.72

6.73

6.90

June Gold


D

1301.3

13.43

1367

1395

1420

1455

July Silver


D

18.91

20.61

21.96

22.56

23.65

24.99

July Copper


U

317

323

327

335

338

347

July Crude


U

89.33

91.60

93.52

96.21

96.74

99.61

 

 

 

 

 

 

 

 

 

 News